SK On and Hyundai have taken action to establish a battery factory for electric vehicles in the United States. Production is expected to start in 2025, and the parties will spend $5 billion to build the factory. Choosing the state of Georgia for the factory, the companies have already laid the foundation. The factory, which will result from the $5 billion investment, will begin operations in 2025.
The factory to be established by Hyundai and SK On will produce batteries for Hyundai's IONIQ 5, 6, and 7 (SUV) models. In addition, the GV70 model of Hyundai's luxury brand Genesis, as well as the Kia EV6 and EV9, will also use batteries from this factory.